Six Flags Entertainment Corp (NYSE:SIX) announced a quarterly dividend on Thursday, February 8th, Wall Street Journal reports. Shareholders of record on Monday, February 19th will be paid a dividend of 0.78 per share on Monday, March 5th. This represents a $3.12 annualized dividend and a yield of 4.88%. The ex-dividend date is Thursday, February 15th. This is an increase from Six Flags Entertainment’s previous quarterly dividend of $0.70.
Six Flags Entertainment has raised its dividend payment by an average of 10.7% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Six Flags Entertainment has a payout ratio of 131.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Six Flags Entertainment to earn $2.34 per share next year, which means the company may not be able to cover its $2.80 annual dividend with an expected future payout ratio of 119.7%.
Shares of Six Flags Entertainment (NYSE:SIX) traded down $1.00 during midday trading on Thursday, reaching $64.00. The company’s stock had a trading volume of 792,741 shares, compared to its average volume of 768,683. The firm has a market capitalization of $5,447.75, a PE ratio of 30.89, a P/E/G ratio of 3.47 and a beta of 1.15. Six Flags Entertainment has a 12-month low of $51.25 and a 12-month high of $69.99. The company has a debt-to-equity ratio of -3.53, a current ratio of 0.80 and a quick ratio of 0.71.
In other news, CEO James Reid-Anderson sold 25,456 shares of the stock in a transaction on Monday, December 4th. The stock was sold at an average price of $66.31, for a total transaction of $1,687,987.36. Following the completion of the sale, the chief executive officer now owns 3,520,146 shares in the company, valued at approximately $233,420,881.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders have sold 240,131 shares of company stock valued at $16,038,385. 6.90% of the stock is currently owned by corporate insiders.
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About Six Flags Entertainment
Six Flags Entertainment Corporation (Six Flags) is a regional theme park operator. The Company operates in the theme parks segment. The Company operates approximately 19 regional theme and water parks. Its parks occupy approximately 4,500 acres of land. Its parks are located in geographically diverse markets across North America.
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